INDIAN BENCHMARKS: SENSEX DOWN 304 POINTS, NIFTY CLOSED BELOW 7800
Hawkish signals from the US overwhelmed bullish developments back home on Thursday, and the bears grabbed the opportunity with both hands to pull the market down.
The outcome of the state assembly elections bolstered the ruling BJP on Thursday, raising hope that it will improve the chances of a reforms push. The market traded in the red throughout the day. The S&P BSE Sensex, which slipped over 70 points in opening trade, ended the day 304 points down 25,399 while Nifty50, which hovered around its crucial support level of 7,850, closed at 7,783 down 86 points.
UPCOMING RESULTS TOMORROW: ABIRLANUVO, ALLCARGO, BALRAMCHIN, BANKINDIA, BRITANNIA, COX & KINGS, ITC, JUSTDIAL, KTKBANK, RAMCO CEM, TIMKEN, WHIRLPOOL
HEADLINES OF THE DAY
CESC Q4FY2016: In line numbers; earnings remain flat
Lupin Q4 beats estimates
Castrol India drops as promoter divests 7% stake
The crucial resistance for Nifty SPOT is now seen at 7855 and above this 7925. Support for the immediate term is now placed at 7750 and next support will be 7697.